Chinese Companies Getting Good at Attracting Talent

As China’s economic clout grows, its largest companies are giving foreign firms a run for their money in securing the best talent in the country.

Though the hunt for the best employees remains a challenge for businesses world-wide, the scenario is no less competitive in China, General Electric Vice Chairman John Rice said in an interview at The Wall Street Journal’s Unleashing Innovation conference.

“In China, in particular, there has been an emergence in the last 10 years of local champions, really good quality local companies that now we have to compete with for people, so we’ve got to be at the top of our game…if we are we can win our share, but it’s definitely competitive,” he said.

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Mr. Rice added that Chinese workers value the opportunity for professional growth, so training and building relationships with schools could help in attracting talent.

Though China has become known for cheap knock-offs of everything from Hermes scarves to iPhones, local businesses can be just as innovative as their foreign competitors, said Gary Wang, founder of Chinese video site Tudou.com.

Mr. Wang said ideas from China’s innovators are “up there along with Silicon Valley startups,” though fledgling businesses often fail in the execution.

“The percentage of success relative to similar businesses in the U.S. is much lower but if you look at the ideas, they’re all briliant ideas…I think it’s really more a matter of execution that’s lacking,” he said.

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